Credit Cards, financial things, etc.

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Originally Posted by Thief Silver

I was just making the point that there are benefits to not paying the student loan first

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indeed ; )

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Originally Posted by burgundy

this by the way includes debt relating to REAL ESTATE (aka a home) and EDUCATION because these are investments we expect to grow in value in addition to whatever immediate purposes they serve. real estate should literally grow in value (at least over time, if not every year) and education should translate into dramatically increased earning potential.

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Yep, these are certainly included in the investment category (though I don't always agree that one's residence is an asset, but that's another story). Basically, credit is great if you use credit wisely. However, if you are using credit to purchase material items that you can only afford through debt, aye, pobrecito! The banks are going to stick your head up your ass faster than a rabbit gets fucked.

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Originally Posted by icarusfall

My friends aren't ignorant. You're about 5 minutes old, live a comfortable middle class life, and have never been a drug addict. You don't know much about anything. I don't mean this in a shitty way, but it's amazing you would presume to know a lot about the world. I'm also not a some weary traveler, but understand that falling into a hole can happen to anyone with only a few bad decisions.

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It's foolish to believe that every drug addict loser in this world somehow knows everything about the world. It's also foolish to think every drug addict loser has nothing to teach you.

Falling in a hole can happen to people who make bad decisions. The same way people can become hopelessly addicted to drugs or food by making bad decisions. Credit cards are a useful tool if you have some reservations and self-control. Do you curse twinkies because they enable fatties to live their harmful lifestyle? No, that's ridiculous.

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Originally Posted by Drewbacca

True. However, I just meant I don't get caught up in the interest game they love to catch people in.

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but you bought an apple which is way worse a trap

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Originally Posted by Drewbacca

It's foolish to believe that every drug addict loser in this world somehow knows everything about the world. It's also foolish to think every drug addict loser has nothing to teach you.

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however, if i was forced to adopt a bright line rule here i would be going with the first option.

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Originally Posted by Yoshi

Yeah, because it would stop development due to lack of profit potential.

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Lets take it to the political thread.

OH SHIT YOU WENT THERE!!11!!!11

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Originally Posted by icarusfall

You're wrong.

I'm done.

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That's the best argument I've read in this thread yet. Hot damn.

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Originally Posted by burgundy

auto loans are a terrible idea for exactly every reason you cite against credit cards. you should not ever borrow to buy a depreciating asset...at some point you will be paying for a car that no longer has value, and in some cases, that you no longer own.

drive what you can afford. save up and do some research and you can usually come up with a nice used car.

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Well, I just don't like the idea of dropping 15k on a car when I could make monthly payments at a low interest rate (under 5%). If I took my 15k and invested it I'm confident I can get a return over 5%. Yeah, I'd end up paying $18k for a $15k car, but my $15k investment should become $20k by the end of my loan term; $2k in the black. Obviously I'm just using these numbers as examples. Am I making sense here or am I overlooking something?

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Originally Posted by burg

bright line rule

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Ach! Lawyer-ese! j/k

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Originally Posted by The_Meach

Well, I just don't like the idea of dropping 15k on a car when I could make monthly payments at a low interest rate (under 5%). If I took my 15k and invested it I'm confident I can get a return over 5%. Yeah, I'd end up paying $18k for a $15k car, but my $15k investment should become $20k by the end of my loan term; $2k in the black. Obviously I'm just using these numbers as examples. Am I making sense here or am I overlooking something?

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you're making more sense than the typical car loan borrower. then again, most car borrowers can't pull <5% on their loans. my backup argument is usually "don't spend $15k on a car" but that's a value judgment if you can afford it. carry on.

that's basically what i'm doing with my low interest student loan. lesson is: debt can actually be GOOD if you can earn more on your money than you have to pay on your debt. your credit score should be hit slightly for carrying debt but if you're the person who is thinking things through this far your credit is probably awesome enough for it not to have any impact.